With $68 trillion in assets set to transfer to younger generations over the next 30 years, wealth managers who target high-net-worth individuals (HNWIs) must adapt by using digital solutions to enhance their existing white-glove services—not replace them.

One of Insider Intelligence’s latest reports discusses how HNWIs’ needs are changing and how technology can enhance onboarding, omnichannel capabilities, and ESG investments.

iCapital Network reached a $4B for broadening access to an asset class traditionally held by institutional investors—a key service for wealth managers to meet HNWI demand.

Between 2014 and 2020, high-net-worth individuals (HNWIs) in every region got collectively richer. This trend is most notable in North America and Asia-Pacific, where the combined wealth of HNWIs grew by more than $16 trillion. HNWIs worldwide were worth nearly $80 trillion last year. More like this:. Report: How High-Net-Worth Individuals Invest.

But Moonfare can use its established presence in the market to capture a slice of the $1.5 trillion that HNWIs are expected to allocate for private markets globally as it expands into new regions, per Oliver Wyman.

Part of this increase can be attributed to the US’ high-net-worth individual (HNWI) population growth of 11% in 2019, per Capgemini, which has given wealth managers a larger addressable market and rising AUM levels.

Younger HNWIs also tend to be more socially conscious and want ways to align their portfolios with their environmental and social justice values. To better capture the changing market and increase assets on its platform, Addepar should broaden its analytical tools to calculate things like the carbon footprint of HNWIs’ assets.